Socialist Worker

Ten Reasons to Abolish the IMF and World Bank

by Andrew Stone
Issue No. 1793

Anti-Capitalist activist Kevin Danaher is as powerful and persuasive a writer as he is a speaker. His new pamphlet, Ten Reasons to Abolish the IMF and World Bank, shows why only the end of these institutions can begin to challenge the injustice and inequality of global capitalism.

In poorer countries privatisation has been the price demanded by the IMF and World Bank for 'structural adjustment programmes'. Danaher lists a number of disastrous cases of these US-devised strategies which transfer wealth from the poor to the rich. One is Mexico, where years of overall growth of the economy have come at the expense of an extra four million people surviving on less than $2 a day since 1994.

Cameroon is paying $280 million a year to international bankers-compared to only $87 million on healthcare. The only alternative to this elite globalisation is grassroots globalisation. His challenge to his readers is to build the movement that asks those questions. The pamphlet is a great tool for that project.

Ten Reasons to Abolish the IMF and World Bank by Kevin Danaher (£4.99) is available from Bookmarks, the socialist bookshop. To order phone 020 7637 1848 or go to

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Wed 27 Mar 2002, 00:00 GMT
Issue No. 1793
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